Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🟠 SILVER Price UNRELIABILITY 🟠 This WILL Transpire!... (Gold PRICE Also!)

Transcript

🟠 SILVER Price UNRELIABILITY 🟠 This WILL Transpire!... (Gold PRICE Also!) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:01
Good afternoon, basement dwellers.
0:03
Thank you for joining me right now.
0:05
Are you as a silver investor, as a gold investor, are you feeling
0:10
abused because you are being abused?
0:14
And that's OK. I'll explain to you why that's
0:17
actually a good thing as we work our way through this video
0:21
because we are seeing volatility in the silver price,
0:25
particularly like I've never seen in the 20 years that I
0:29
followed the silver price day by day by day.
0:33
What does it mean and why is it happening and why possibly is it
0:38
not such a bad thing? I know days like today when
0:41
silver's down $1.00 per oz, Oh my gosh, it's horrible.
0:46
That's exactly what they want us to feel, and we've been through
0:50
it, right? You're tough.
0:51
I'm tough. We've lived through this before,
0:53
but I'm going to prove to you and we need to review right now
0:57
why we know this is exactly what they want to have happened.
1:01
They want all the weaklings to get out of silver and gold for
1:06
that matter, right? They want the people who are who
1:09
are soft hearted and can't deal with volatility.
1:12
They don't want you to own silver.
1:13
They don't want you to own gold. And how do they do it?
1:17
They induce crazy volatility into the price.
1:20
But can they do it forever? No, we know that's the case, but
1:25
let's run out. Just do a quick review.
1:28
This will explain to us exactly what's going on.
1:33
Remember this memo, right? That was written back in the mid
1:36
1970s, just when they were setting up the electronic
1:39
exchanges for silver and gold. What does this tell you?
1:44
What does this tell me? I'll just read the underlined
1:47
red part, it said, and this was divulged I believe is part of
1:51
WikiLeaks, but it's not classified information.
1:54
It's OK for us to talk about. They said though these were the
1:57
big the guys that were setting up the futures market, the paper
2:01
market, the Unicorn fart dust, silver and gold market.
2:06
They reported back to the authorities that also expressed
2:10
was the expectation that large volume futures dealing that
2:15
would be the COMEX in the LBMA would create a highly volatile
2:20
market in turn the volatile price movements.
2:24
Think about what we're going through.
2:26
It's not just today and yesterday, it's been going on
2:28
for several weeks, right? These volatile price movements
2:32
would diminish the initial demand for physical holding.
2:37
And they're talking about you and me buying physical silver
2:42
and gold and most likely negate long term hoarding by U.S.
2:49
citizens. This is their plan, guys.
2:52
This is what they've been working on for 50 years, OK, But
2:57
it's coming to an end. It cannot last forever.
3:01
Let's go. Let's go check out this.
3:02
Do you know what the price of silver is in in China, in
3:06
Shanghai? We're going to find out right
3:08
now because that's the real physical price here.
3:14
Our friend John at the Silver Academy, 15% arbitrage, silver,
3:20
right closed. And I'm going to show you this
3:22
in a second in Shanghai on the physical market at $34.38,
3:29
right? Where's silver trading at right
3:32
now here in the United States? We'll go out to Pendeck.
3:34
So in a little while, we'll take our blood pressure medicine and
3:38
we'll check the price of silver and gold.
3:41
But guys, what is this telling us?
3:44
Oh my gosh, the make believe, right, the paper, the
3:49
manipulated the the, the what did I just what did we just look
3:53
at where they they said that's why they were starting these
3:56
quote UN quote futures markets, right?
3:59
The, the, the BS COMEX and the LBMA price $29.00 and whatever
4:06
cents per oz. Whereas in China, the real
4:09
physical price $34.38. Unbelievable.
4:14
OK, in the West at 2976, it's gone down since then.
4:19
Shanghai, it's arbitrage. OK.
4:21
Oh, this is this is crazy. This is absolutely crazy.
4:25
Now look at the paper to physical ratio at the COMEX.
4:28
OK, here, let me highlight this for us.
4:36
Oh, here we go. What color you guys want today?
4:40
How about we just go with standard yellow?
4:42
Total silver volume at the COMEX was 173,000 contracts yesterday.
4:48
This is a total of 865,000,000 paper oz traded in one day.
4:57
This 865,000,000 paper ounces is more than the yearly world
5:04
production in one day. So to say that that's the real
5:09
price, right? The real price of silver is what
5:12
that 865,000,000 oz coming out of the ground is worth the
5:16
physical metal. We know, for instance, in China,
5:19
it's worth almost $5 per oz more, right?
5:23
They're in one day. The COMEX is trading the
5:28
equivalent of the entire annual output production of real
5:33
physical metal. Oh, guys, this is going to come
5:36
to an end. And when it does, I'm telling
5:38
you, it's going to be very, very interesting times for silver and
5:44
gold investors. For you and me.
5:45
I know this is difficult, Difficult times right now.
5:49
Let's go see what our friend Oriental Ghost has to say.
5:54
Let's check on his feed. Oriental Ghost.
5:56
OK, What a great guy. Everyday puts this out.
6:00
Shanghai Gold Exchange and we love you.
6:03
Shanghai Gold Exchange Silver 3414.
6:08
Shanghai Futures Exchange, Huh? Silver, $34 U.S. dollars per oz
6:16
$34.38. Let's run out.
6:20
I'm I'm in Pfc. Not prepared.
6:22
Not prepared for class. I went to a private all boys
6:25
high school man. We had this brother.
6:28
His name was Brother David Keebler.
6:29
Hold on. Let me type this in there.
6:32
And it was an old building. It was three stories tall.
6:34
And if you came to class and you didn't have all your books
6:37
stacked up, like symmetrically underneath your desk, he would
6:40
throw them out the third story window and some of them would
6:42
land in these pine trees. He would say you were in Pfc,
6:46
not prepared for class, so I was in PFCI.
6:48
Apologize. Thank you for bearing with me.
6:52
There we go. OK, Silver, $29.60 per oz down
6:58
$1.15. Gold $2320 per oz, down only
7:04
$40. Oh, no, The price of silver and
7:07
gold aren't manipulated. Let's go check, let's go check
7:11
American Silver Eagles here on Pimbeck site.
7:14
Just curious. OK, so you can get you can get
7:17
American Silver Eagles random year for 3474 right now at
7:22
Pimbeck. Guys, if you're look, if if
7:25
you're, I want to say thank you to Pimbeck.
7:26
They sponsor Ron's basement. They make this live stream
7:29
possible. It's a company that I've dealt
7:31
with now for over a year. On a personal level, I'd highly
7:35
recommend if you decide right when we have these price pull
7:38
backs, that you might want to buy some gold, silver, or
7:40
platinum group metals. Check out Pinbex.
7:43
I think you'll find what I found, but I want you to find it
7:46
out for yourself. Do your own due diligence.
7:48
You'll get the best prices, a great selection and great
7:52
customer service. A company that I believe in,
7:55
that I know I can trust, but I want you to find that out for
7:58
yourself. You can find them at pinbex.com.
8:02
Thank you, Pendex, for your sponsorship.
8:04
Speaking of sponsorships, we got something that changed.
8:07
Has anybody noticed what's going on?
8:08
We'll talk about that in a second as well, but let's move
8:11
on. OK, So yesterday, I mean, what
8:14
is going is this, does it feel crazy town to you in silver in
8:19
particular? Weren't we up like a dollar per
8:21
oz yesterday in silver and now today we're down $1.20 per oz.
8:26
It is absolute crazy town yesterday.
8:29
Everybody's saying we don't know what's going on.
8:31
We don't know what you know the the dollar index was up
8:35
yesterday, silver was up. Here's the bottom line, guys.
8:38
You know what we can talk about. I can pull up the dollar index
8:41
chart for you. I do that from time to time.
8:43
We can talk about interest rates.
8:44
We can talk about why silver and why are silver and gold down
8:48
today? Well, because the PMI numbers
8:51
were good, right? Which means supposedly the the
8:55
economy's strong, right? That's that's why it would none
8:59
of it makes sense, right? Everything has been thrown out
9:03
the window. Before we came on live, I texted
9:05
Jake from Jake's custom parts and and and and big Tim
9:09
Silvershire. And I'm like, what's what's what
9:11
are they saying? The reason is today, like the
9:13
correlations are broken. All the relationships are
9:16
broken. We talked about this back in
9:18
December, OK, right here in the basement.
9:20
I told you we were in new territory for silver.
9:24
We talked about this and what do we mean by new territory and
9:28
what do we mean when we talk about that, about the future
9:32
price of silver and gold? That's probably what you're
9:34
interested in. What I mean is you can throw out
9:39
the strength of a lot of the previous Co relations even, you
9:44
know, everybody talks about, oh, interest rates have to go down.
9:46
That'll be and it would be absolutely would be rocket fuel
9:50
for gold and silver. But at the end of the day, this
9:53
is all you have to remember. This is it and it explains
9:58
everything. And it is that what's really
10:01
going to drive the price of gold and silver higher is the
10:04
continued devaluation of the US dollar.
10:09
You can put all kinds of fancy confusing relationships on top
10:13
of that and all this and that that.
10:15
But if you boil it down, baby, if you boil it down to what the
10:19
core root, the core reason behind what has driven gold and
10:23
silver. And that's what we're talking
10:25
about when we look back to December, because that's when
10:28
everything changed, right? It all boils down to 111 simple
10:35
fact. And that is that the dollar is
10:38
going down in value. So inflation's up.
10:40
Well, that's what that's what the dollar going down is.
10:43
That's inflation, right? And it's happening, and it's
10:46
happening right now, and it's going to get worse, right?
10:50
Inflation will get worse, OK? It doesn't matter if the Fed
10:54
lowers rates. It doesn't matter if the PMI was
10:57
good. It doesn't matter if the dollar
11:00
the DXY index, right? I mean, you know, you want to
11:04
go. You want to go see what the DXY
11:05
index is. Buttercup, I'll tell you what
11:07
you do. Go get in your sedan, drive to
11:10
the nearest Home Depot. Go to the plumbing section.
11:13
Go look at the toilets. Look at those 3 toilets OK and
11:17
call one the United States dollar, one the euro and one the
11:22
yen. That's what the DXY index.
11:25
So all these bull crap Oh my God, and we've got something
11:28
hilarious. This whole shows about crap.
11:30
It's a crappy day in the silver and gold market, right?
11:34
But I got a crap story for you at the end that I think it's
11:38
just, you know, pretty darn funny.
11:40
I have to say. And you probably haven't heard
11:42
of this, but it's on the mainstream new, the mainstream
11:46
media crap story. It's not just silver and gold
11:49
that are having a crappy day. No, the people in South Korea
11:52
are having a real crappy day. And you'll find out, find out
11:55
why a little bit later. But that's what that's what you
11:58
do. You go to Home Depot, look at
11:59
those 3 toilets. That's the dollar, all that
12:01
stuff. It's all a bunch of bunk.
12:04
OK, I'll give you some good news.
12:08
You want good news about silver and gold?
12:11
I'll give you some good news. Let me have a sip of coffee and
12:13
I'm going to give you some real good news about silver and gold.
12:16
Let me see if I can pull this up for you.
12:23
This will explain it all. OK, let me tell you this first.
12:28
Number one, you need to listen up.
12:31
Basement dwellers, my fellow butter cups, right?
12:34
I know I'm sensitive, Sally. Today stinks.
12:36
It's a crappy day for silver and gold.
12:38
But but let's take some heart. Let's run out real quickly one
12:43
more time and look at this. And I want you to look at these
12:46
numbers. OK?
12:47
When you look at silver, $29.60 gold 2320 per oz, $2320 per oz.
12:55
Guys, we need to look at those numbers and be grateful.
12:58
Hey, platinum's having a good day and so is Palladium, but
13:02
that's weird. That's good though, for those of
13:04
us who are platinum lovers, none the less, $29.60 is a good
13:10
silver price. Is it a fair silver price?
13:13
No. Should silver be much higher?
13:16
Absolutely right. If we even had just a reasonable
13:19
gold to silver ratio, for instance, at 2300, if we had a a
13:24
gold to silver ratio of 50, we would have silver at at $46 per
13:30
oz. OK, but but let me show you
13:33
something. Hold on here.
13:34
I want to show you, I want to remind you this, this will put
13:36
it in perspective. OK, I'm going to zoom over.
13:41
Oh boy, I shouldn't do this, but I'm going to do it.
13:43
I'm going to zoom over this way. There it is.
13:48
I want you to look back there. You see that Christmas tree, You
13:51
see that sign on that Christmas tree?
13:53
We had that in the background down here in the basement here.
13:57
Now you can see me. All during the Christmas season
14:00
we were, we were praying for $2100 gold for Christmas.
14:06
We kind of joked about it and it actually happened in December,
14:09
like on a Sunday night. We went up above $2100 per oz.
14:13
Now look at that 2100, that was Christmas time, right?
14:17
And it didn't even hold through Christmas.
14:20
Now think about, let me bring you back here.
14:24
Think about. Darn it, we got $2300 gold.
14:29
Now here's the big deal. This is what's important.
14:31
We have silver. What is I'm, I'm forgetting
14:34
everything. Now, is silver still 2950?
14:37
Bear with me, folks. Yeah, 2962 thousand.
14:42
I'm sorry, $29.60 OK, summer is going to be tough.
14:49
Bald guy money sent us a great chart yesterday.
14:52
June is traditionally the weakest month for silver.
14:56
For gold, OK, it's not. We're not going to go straight
15:00
up. It's going to be a challenge.
15:02
But I'm telling you right now, I will be happy if we can survive
15:06
through July and gold as gold stays above 22122 fifty per oz
15:13
and silver, if silver can stay above $28.00, that's good.
15:18
We want to build a base. OK, 'cause nothing can just go
15:21
straight up. Anything that goes straight up.
15:24
Think of anything in nature. Excuse me, what happens if you
15:29
throw a ball straight up in the air?
15:31
It reaches this peak and it comes back down, right?
15:34
We want the gold and silver, but what about a rocket?
15:37
It goes up and comes down, I guess, unless it goes into
15:39
orbit, but that's a different story.
15:40
Anyway, we want we want the silver price and gold price to
15:44
be like a strong oak tree that grows and grows and grows slowly
15:49
over time, takes a little time off right during the winter.
15:52
And that's what we want to see happen.
15:54
So as we move through the summer, don't be surprised, OK?
15:58
I hope I'm wrong. I hope that three weeks from now
16:01
we're down here talking about $34 silver and it could happen.
16:05
But what we really ideally want to see happen is that a strong
16:09
base that all the oops, sorry, all the weak minded feeble
16:16
silver and gold investors leave the party, right?
16:19
So that anybody who can't take it right, can't take days like
16:22
today is gone. And what we have is a strong
16:25
you, right? Are you strong?
16:27
I'll ask you, are you going to sell your silver?
16:30
Are you going to sell your gold? Are you going to sell your
16:31
precious metal mining stacks? I'm not sorry, Charlie, I'm not
16:36
right? I've never sold any silver over
16:38
20 years, right? We want the strong people left
16:42
and that's how we're going to go higher.
16:44
What about, oh, let's talk about this.
16:46
OK, so, so here's the good news for silver and gold.
16:51
That price I just showed you that was achieved in the face of
16:55
what traditionally are, are, are are factors that would push down
17:01
the price of silver and gold. Interest rates went up, right?
17:04
Inflation came down. Gold and silver should have gone
17:08
down. That did not happen.
17:10
But guys, wait till you see this chart.
17:13
This I'm going to tell you the what what will what will ignite?
17:17
What will absolutely ignite the price of silver and gold is when
17:20
the retail investor comes back in and I want to show you this
17:26
is is this it? Yes.
17:28
This is called pretoriates. This is a sub stack.
17:32
This guy reached out to me a while back, puts out some great,
17:35
great, great in depth silver and gold analysis, part of which I
17:39
don't really understand, but I want to go down.
17:41
He has some charts here. OK, this is China.
17:45
This is China and this is the amount of gold held in the ETFs.
17:51
The shaded blue area in China, OK, on the left is the price of
17:56
gold in yuan, right? But look at this.
17:59
In China, we have skyrocketing amount of gold held in ETFs
18:05
right now. What about the West, right?
18:08
Because we still are the richest country in the world after all.
18:12
Well, here we go, total ETF holdings in gold.
18:16
Investors in the West continue to sell their investments in
18:19
gold ETFs. The number of outstanding ETS is
18:22
still decreasing. Look at this, the shaded blue,
18:25
OK, the blue line is over here. That's the gold price, right?
18:30
Gold price has been going up. The shaded blue area is the
18:34
number of Oz hold it held in the gold ETFs in the West.
18:38
And I mean, my gosh, we probably peaked here at around what is
18:43
that 110 million oz, I imagine, Yes, million oz.
18:49
And we're down to 80. We're down.
18:52
Oh my God. I mean, you know, 3334% people
18:56
in the West are not buying gold. Now you might be asking what
18:59
about silver? And what does this mean?
19:01
OK, I guess we'll take this. Not guess we will take this as a
19:04
good thing because people, your Western friends and neighbors
19:09
will join the silver and gold party.
19:11
There's no doubt about it. How about silver?
19:14
It's even, you know, look at this, you know, silver, gold,
19:18
there's the silver price, the blue line up and up and up,
19:21
right, OK. And the amount of silver held in
19:25
the ETFs since what for the last three years has gone from looks
19:32
like what 1000? I don't know what that is, 1000
19:35
kilograms, whatever it is, it's down from 1000 down to almost
19:38
650, down another 35%. The exciting thing to remember
19:44
about that is quite simply that when people in the West guys
19:49
it's it's it's the whole fundamental story for silver,
19:54
the whole fundamental story for gold.
19:56
You know it all already. OK, but it's still a supply
20:00
demand dynamic and very manipulated.
20:03
We talked about that when we started this video live stream.
20:07
Absolutely manipulated, but they when when the Western investor
20:12
wakes up and comes back. Right, those are your neighbors,
20:16
you know that that are that don't understand silver and gold
20:20
when they had started under understanding, right.
20:22
When we get another massive wave of inflation and that is going
20:26
to happen. Look, I don't have a crystal
20:28
ball. I'm just sharing my opinions.
20:30
Don't make any financial decisions based on anything that
20:33
I say today, but I absolutely can see easily it's, it's
20:39
inevitable, right? Look at the US debt clock.
20:43
Look at, I mean we're the dollar.
20:44
Look at the fact that everybody's shipping dollars
20:47
back to the United States. The trend is growing.
20:50
The value of the US dollars going down when that inflation
20:54
kicks in again. The last time we had that
20:56
inflation, right, that last time that was fooled me once, that
21:00
was all your neighbors that are saying, Oh my God, the price of
21:03
food has gone up. The price of this has gone up.
21:06
Oh, it sucks. My car insurance has gone up.
21:08
My house insurance, All right, you know, you've heard it.
21:12
We're all dealing with it, no doubt about it.
21:16
But they kind of absorbed that first one.
21:18
Sure, we had some new stackers join us, no doubt about it.
21:22
But when that next wave of inflation, right, when that loaf
21:25
of bread, right, if the grocery store goes from being $2.25 up
21:31
to $5 for a loaf of bread, when a gallon of milk goes from $4.00
21:36
a gallon to 9 or $12.00 a gallon, that's when people are
21:40
really gonna freak out. And that's when you're gonna
21:43
have a wave of new investors coming into the into the silver
21:48
and gold sector. All right, let's go check this
21:51
out right now. New breaking news.
21:55
Breaking news. Have you been to Thailand?
21:58
I have been to Thailand, and we get this close.
22:03
I don't want you there. OK.
22:05
From zero hedge. Thailand joins China now.
22:11
Thailand's huge. OK.
22:12
I have a bunch of friends who live in Thailand.
22:14
Well, that's an exaggeration. I have one very good friend who
22:17
lives in Thailand. I've gone to visit him.
22:20
I've spent weeks, months there in the past.
22:22
It is a booming, growing economy.
22:25
The Thai people are very friendly, very smart, everything
22:28
else. But this year, Thailand joins
22:30
China in driving the gold bull market, shedding its long
22:33
standing price, price sensitivity to the price of
22:36
gold. Thailand is currently a gold
22:38
buyer driving the price up just like China present changes in
22:43
the global gold market in which pricing power is shifting to the
22:47
east could be a precursor to a transformation in the
22:52
International Monetary order. Yes, yes, yes.
22:55
Possibly trade in the east will settle through a system
22:59
connecting local CBD CS, while any remaining imbalances are
23:04
transferred in gold, right? We talked about this.
23:10
That's probably one of the very viable options.
23:13
And this has everything to do with gold and it will impact the
23:16
price of silver. All those BRICS countries will
23:21
likely trade amongst themselves, right?
23:24
And if they do choose to use their own currencies, which they
23:26
are all increasingly choosing to do, any imbalances, a lot of the
23:32
smartest people in the room are saying those trade imbalances
23:35
maybe on a monthly basis, maybe on a on a on a quarterly basis
23:39
will be settled with gold. OK, now that's what we've got
23:47
Here's here's Thailand's net gold imports.
23:50
Wow, look at that, huh? That's the purple.
23:54
Look at their net gold imports and look what?
23:57
Look at the green circle. Look at what is going on on
24:01
recently. So Thailand joining, right,
24:05
joining in the big worldwide gold party that we're all
24:11
sitting as a front row seat at right now.
24:13
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that I'd encourage you to go take a look at.
24:59
Thank you to Fortuna Mining, OK, for sponsoring Ron's basement.
25:05
All right, guys, let's talk more.
25:08
Is the Fed Ron, you want to do a little Fed bashing?
25:11
This is great. This is going to knock your
25:13
socks off. This is the Fed, right?
25:16
The Fed that everybody believes for some dumb reason, me
25:22
included, I fall for it. We all fall for it, right?
25:26
Everybody's in America's brainwashed to believe the
25:28
dollar is valuable. And, and on top of that, that
25:32
the Fed knows what they're talking about.
25:33
Wait till you see this. This is, is smashing.
25:36
Look, the Fed is wrong. This guy right here.
25:40
This guy is scared right now. Everybody say hello to Jerome,
25:46
OK? This is our guest.
25:47
This is our guest here for the next 5 minutes, Jerome Powell,
25:50
and I'm going to show you why he's wrong and everything that
25:56
he's wrong about, right. When it all comes home, when the
25:59
hens come home to roost, undeniably what will happen is
26:03
money printing. He's going to turn on his money
26:05
printer, right? That'll devalue the dollar like
26:08
we talked about early. That's the only thing you really
26:12
need to worry about. And as the dollar continues to
26:15
devalue, the price and value of the physical silver and gold
26:19
that you hold in your dirty little mitts right now are going
26:23
to go higher and higher and higher.
26:26
All right, let's take a look at this.
26:27
This will show us some interesting facts about what the
26:34
about how wrong the Fed has been.
26:36
This is from Henrik Zieberg. He says, let's remind ourselves
26:40
of the feds and economists forecast in 2007 and 2008.
26:45
Remember that was right before the great financial crisis and
26:49
compare today's forecast by those same quote UN quote,
26:54
experts. Largest recession since 1929
26:59
incoming is what this gentleman is saying.
27:02
So let's take a look at this. I want to make sure I've got you
27:05
on the screen. I do OK back in back in 2007,
27:11
2008. Let's read these headlines
27:13
quickly. This is again, guys, remember,
27:15
this is right before the GFC, the great financial crisis.
27:19
Fed chairman projects a soft landing for the US economy.
27:24
Business International Herald Tribune again in February of O8
27:29
Bernanke, Ben Bernanke sees no recession, but a big challenge.
27:34
OK, how about a great financial crisis, Ben?
27:37
About six months later, Bernanke, this is another one
27:41
from O8 Fed ready to cut rates to prevent a recession.
27:45
OK, right. The Wall Street Journal, why
27:48
economists are betting a recession won't happen again.
27:52
Guys, this was all this was all just months before the great
27:57
financial crisis and the massive recession that ensued here.
28:02
Here we go meeting October of of of 2007 meeting of the Federal
28:07
Reserve Open Market Committee. So in summary, I think this is
28:11
this is a quote from Bernanke. I think the most likely outcome
28:14
is that the economy will move forward toward a soft landing.
28:19
All right. Now let's compare that to what
28:22
economists in the Fed are saying.
28:24
Now, this is today Fed chair policy is a good path towards an
28:29
economic soft landing. OK, Deutsche.
28:32
Deutsche Banky no longer expects US recession in 2024.
28:38
Jerome Powell pumped the brakes on rate cuts, but Goldman still
28:42
eyes a soft landing because of the strong job market.
28:46
Treasury Secretary Janet Yellen says 2024 is going to be a very
28:50
good year for the economy. Doesn't this sound familiar to
28:55
what we heard back in O7 and O8 right before the great financial
28:58
crisis? Hear it from CNN.
29:01
Here's why the Fed doesn't see AUS recession in coming years.
29:06
So you know, guys take them for what they are.
29:09
I believe we've got a major recession coming.
29:12
Do you think we have a major recession coming?
29:15
Another one of the big reasons they threw out yesterday Why,
29:18
why the why the why the markets were so crazy was that
29:21
Switzerland cut rates. Yes, there are countries
29:24
Switzerland already cut their interest rates.
29:26
Switzerland isn't that like the great the Swiss bankers, right?
29:30
The the, like the the most sophisticated financial guys in
29:32
the world. They cut rates yesterday.
29:35
But I want to show you something very interesting about that
29:38
whole scenario here. We get this from CNBC.
29:41
Switzerland makes second interest rate cut.
29:44
So this was their second cut as major economies diverge on
29:49
monetary policy easing. OK, the Swiss, Swiss Swiss
29:57
National Bank trimmed their rates by 25 basis points to
30:01
1.25%, blah, blah, blah, blah, blah.
30:05
The country's inflation rate flatlined at 1.4%.
30:08
So why do you think in Switzerland is doing so well
30:14
with inflation? So I asked Google, I was just
30:18
curious. I wonder what their debt in the
30:19
United States, we have like 120 debt to GDP ratio.
30:23
Yeah, that 35 trillion on the US debt clock, right?
30:27
I was curious how does Switzerland, how are they able
30:29
to cut rates? I'm wondering what their debt to
30:32
GDP ratio. Here we go.
30:35
As of the end of 2023, Switzerland's debt to GDP ratio
30:40
was 39%, which indicates a debt level of 3300 and 16 billion.
30:45
So their debt to GDP ratio is like 1/3 of what the United
30:50
States has. Do you think maybe, maybe that
30:54
has anything to do with why Switzerland was able to cut
31:00
interest rates? Do you think the United States
31:02
can cut interest rates? No, OK.
31:05
I was more adamant about this with you guys.
31:09
We talked about this like two or three months ago.
31:12
If the, if the United States cuts interest rates, think about
31:16
it, nobody wants to buy our debt right now.
31:20
And the United States has a lot of debt, a lot, a lot, a lot of
31:24
debt. It'd be like you, do you have a
31:25
lot of debt, right? I don't, I hate that, right?
31:28
But do you have a lot of debt? Do you have hundreds of
31:30
thousands of dollars of debt, right?
31:32
And if you went to your friend, if you came to me and said, Ron,
31:36
I need to borrow $50,000, and I'd say, OK, let's take a look
31:41
at how much other debt you have. And you had a bunch of other
31:43
debt. Would you loan money to
31:46
yourself? No, I wouldn't loan it to you
31:48
either unless you gave me a super high interest rate.
31:51
And that's what the world is going to be demanding from us if
31:57
you're in America like me, right?
31:59
Like, we need to borrow all this money, whatever it is. 10
32:02
trillion needs to be refinanced in the coming, like, short
32:06
period of time, year or two years.
32:08
I don't. It doesn't matter.
32:09
There's the bottom line. A boatload.
32:14
Oh, I got the crap story for you later.
32:17
I can say crap on this show. A crapload of debt needs to be
32:22
refinanced and nobody wants it. OK, so do you think the Fed's
32:26
gonna be able to really cut interest rates and say, oh,
32:30
guess what world, Remember, we were going to pay you 4 percent,
32:33
5%? Well, now we're only going to
32:35
pay you 3% or 2%, but you get to hold U.S.
32:38
Treasuries. Look at our friend.
32:40
No. OK, The Fed's not going to be
32:42
able to lower rates. It's, it's a big joke.
32:44
OK, Have you heard this one? This is funny.
32:49
It's a crappy day. Let's go.
32:51
Let's go check. Let's go check the price of gold
32:53
and silver and see how much worse it's gotten.
32:56
Take your blood pressure pills. I'm on em myself.
32:59
Don't worry about it. Let's go out to pin backs and
33:02
see if we broke. Yeah, we did.
33:03
We broke $40.00 an ounce down. Gold $2319.77 per oz.
33:10
Silver holding steady at $29.60 per oz.
33:16
Guys, again, I know today's crappy, no doubt about it.
33:19
It's about to get crappier for you with this next story.
33:22
But remember, these volatile price moves, I don't care.
33:27
You know, look, if gold goes up and down by our silver goes up
33:31
and down by a dollar every day for the rest of the summer, but
33:35
remains above $28.00, I'm happy. You may not like me for saying
33:39
that. You may say, and I won $35.
33:41
I do two guys and I know silver should be much, much higher.
33:46
But if we can think about this, I'm going to paint a rosy
33:49
scenario for you and we're going to focus then on silver today.
33:53
Silver investors, if we can survive through July, which is
33:57
what, what's today's date and let's say six weeks from now and
34:00
we can survive with the silver price maintaining above $28.00
34:06
per oz, OK, Gold staying above 2252 thousand, $250 per oz.
34:13
We are going to have built such a strong base.
34:15
We'll be going into August and September and you know that the,
34:19
the, the crap is going, that's the word of the day crap, crap
34:24
is going to hit the fan. OK, September, October, right?
34:28
Have you heard about the presidential election coming up
34:31
between Donald Trump and Joe Biden?
34:35
I mean, this, this debate is going to be really funny.
34:37
This is not a political show. But Oh my gosh, you know, none
34:43
the less what I'm saying is we're going to be two months
34:47
closer, two months, two months closer, OK, to this, this major
34:54
recession that is coming. All right.
34:56
I would I would ask your own Powell.
34:58
I'll ask you, do you think you know everybody?
35:00
It's like it feels like we'll never have another recession.
35:03
And that's what the Fed seems to think, right?
35:05
No, we will have what? We'll be two months closer.
35:07
We may even be dipping our toe into it by that point, right?
35:12
And we'll be heading right into the firestorm, which will be
35:17
this presidential election, right?
35:20
September and October. Think about it.
35:23
What do you think's going to be going on in September and
35:25
October this year? If you said that we're going to
35:28
be having major turmoil, I think you're correct, right?
35:33
I think you're correct. And then when the election does
35:35
occur, this guys, it could get crazy.
35:38
There is the, the, the, there are so many black Swans circling
35:43
right now, and a lot of them we don't even know about, OK, But
35:47
there are so many black Swans that you don't need to wear
35:49
sunscreen, Buttercup. Don't worry about it.
35:51
You can go outside without your sunscreen on today because we've
35:54
got black Swans everywhere. It's going to be absolutely
35:58
crazy. So part of what's going on in
36:01
the world, this has, this is a, a story about crap.
36:03
OK, We're going to have a little fun.
36:05
It is a bad day in the markets and this is but it's actually
36:09
not funny the situation going on Russia.
36:13
Let's go check this out first. Russia has has basically formed
36:21
a strong, even stronger alliance.
36:24
Kim Jong Un and Vladimir Putin, they just visited each other.
36:28
They have this massive new agreement that they signed off
36:32
with each other to support each other militarily, economically,
36:36
everything else. Remember, North Korea is a
36:40
nuclear power. OK, I'm sorry, I may have
36:45
misspoke there. A major military power, right?
36:48
We're we, we get fed a lot of things about how horrible,
36:51
horrible it is there. But Putin and Kim Jong Un are
36:55
buddies. There's a lot of people who that
36:57
the situation between North Korea and South Korea is heating
37:01
up. OK.
37:02
And this is sad. You don't want we don't want
37:06
war. No stretch.
37:07
We're not basement dwellers are are are are not war mongering
37:11
people. But they're starting to have
37:13
some conflicts. And the North Koreans, the North
37:17
Koreans are sending like big balloons, like big massive
37:21
balloons in the South. So North Koreans are sending
37:24
these big balloons into South Korea and North, I'm sorry, And
37:28
South Korea is sending big balloons into North Korea with
37:32
like propaganda material and, and money and like, oh, you
37:37
know, you should rebel against your government and come to the
37:40
South Korea 'cause it's a great place to live and look at this
37:44
great music. But the North Koreans are
37:46
sending balloons into South Korea and you know what's in
37:50
them? You're not going to believe it
37:54
here. We'll cut right to the chase.
37:59
From Time magazine says a crap attack.
38:03
North Korea sends balloons carrying trash and poop into
38:08
South Korea. And here's some.
38:11
Here's some. South Korean authorities warned
38:13
residents along the border with North Korea that an air raid was
38:17
underway. More than 150 balloons carrying
38:20
trash and what is believed to be feces.
38:23
I believe that's poop. The incursion comes days after
38:27
North Korea warned it would retaliate against anti North
38:32
Korean leaflets that were being sent from South Korea into North
38:37
Korea. So just when you thought the
38:39
world couldn't get more bizarre, we have two world superpowers or
38:44
powers anyway, exchanging balloons, part of which include
38:49
poop, right? I mean, you got to hand it to
38:53
him. Don't forget the United States.
38:57
This is this is as we talk about all this doom and gloom.
39:03
All right, tinfoil hat. Whatever.
39:04
I don't care. I don't.
39:05
I'm not tinfoil hat. I'm this is based in fact.
39:09
Think about this, think about this because you know and I
39:13
know, right, the the number one core thing that we need to
39:16
remember when it comes to our silver and gold investments are
39:19
the devaluation of the dollar. All the other stuff is noise at
39:24
this point. All the other little details and
39:26
relationships and the dollar, OK, we covered that already, but
39:31
on a bigger picture scale, OK, this is frightening.
39:35
This is absolutely frightening to when you think about this,
39:39
OK, are we in a depression right now?
39:42
Right now, are we in a depression?
39:44
You know, you could argue, right?
39:46
If you talk to a lot of people in the middle class in this
39:49
country, a lot of people in the lower middle class, even some in
39:53
the upper middle class that we are in a depression right now.
39:58
So think about this. Our country, Our country is in
40:03
debt. The amount of debt we have is
40:05
absolutely staggering. Sure.
40:07
I'll pull it up for you. Hold on a second.
40:09
Give you something to look at while we talk about this, OK,
40:16
Absolutely. Let's check and see.
40:17
Did we get to 35 trillion yet? Not yet, guys.
40:20
We're gonna, we're gonna have a big party when we get there.
40:23
We're at 30-4 trillion, 841 billion.
40:26
We are in debt so high right now, OK #1 and the spending
40:34
level in this country. And this is what will continue.
40:37
And we don't like it. We're not.
40:39
I'm not in favor of it. You're not in favor of it,
40:41
right? But this will continue to
40:43
happen, right? This debt will continue to
40:45
skyrocket. The deficit spending in the
40:49
country right now, what we're doing on those two areas, OK,
40:53
have not really been matched since the period of the Great
40:57
Depression, OK? And #2 the other times that
41:02
we've had this amount of debt, when we look at like debt to GDP
41:06
or we, we look at debt levels just in general.
41:08
The only other time that we've had this much debt is during
41:12
periods of World War, OK. So right now when things are
41:16
supposedly good, OK, look at that debt level, right?
41:20
Look at the where is it on here? The deficit?
41:23
I don't know. It's on here somewhere.
41:25
Doesn't doesn't matter. You know the government's
41:28
spending trillion dollars or more right now.
41:31
Things are supposed to be good. Remember she remember you.
41:34
Don't you want you want me to show her to you?
41:36
She'll she'll tell you how great and strong the economy is.
41:39
What's wrong with you, Buttercup?
41:42
Right. What's wrong, you little
41:44
sensitive Sally? I'm speaking about myself, not
41:47
you. Of course. the US economy's
41:49
doing awesome. What's wrong with you?
41:53
You just go out and get a second or third job.
41:55
You need to work. You need to work more than 50
41:58
hours a week. What's wrong with you?
42:00
You need to work 65 or 70 hours? There's plenty of opportunities
42:04
in this country. You can You can drive an Uber.
42:07
You can deliver Burger King to drunk college kids for DoorDash.
42:12
You can work a full time job. You can also be faced with
42:16
skyrocketing medical premiums and medical bills.
42:19
But you know what's wrong with you?
42:21
Things are good in this country, right?
42:24
I mean, what? What the heck, huh?
42:26
Yeah, we're in that situation right now.
42:29
OK. Things are good.
42:31
That's what they're telling us. Hey, here, let me.
42:33
I'm. I'll show you.
42:34
You want to see who's who's preaching at you?
42:36
I'll show you who? Hold on.
42:39
I'll be right back. Huh?
42:44
We're not supposed to feed her, but she'll tell you.
42:47
She'll say hey. Oh, there she is.
42:49
Hey, everybody. The economy's great.
42:52
The economy's strong. If you, you know, the economy is
42:56
doing wonderful, you should be OK.
42:59
Then I have a question. I have a quest with us basement
43:03
dwellers. Do you think, wouldn't you like
43:05
to have Janet here in the basement?
43:08
I think I think we would, right? And we would have one question
43:12
for her. Janet If things are so great in
43:16
the economy, everything is so awesome out there, right, Then
43:20
why does the government have to spend like a record amount more
43:26
right, in deficit spending every year?
43:31
And why is the national debt at A at a record high level?
43:35
And at a point when you look at the debt to GDP level, right
43:39
where where statistically it's almost impossible for us to come
43:42
back? Janet But all you want to do is
43:44
tell us everything's dandy. And then if you even want to
43:47
complain about it, I'll tell you what it's dandy for.
43:51
I'll tell you. I'll tell you who it's dandy
43:52
for. It is dandy.
43:54
It's a dandy old country to live in, right?
43:57
Right. It's dandy if you're if you're,
44:00
if you're one in 300 Americans and you're wealthy and you have
44:05
a stock portfolio worth $10 million.
44:08
And if you do, congratulations, right.
44:10
Maybe if I did, I'd be like, Oh well, everything's dandy.
44:14
I'd be down here telling you how dandy things are.
44:17
Look at my new, look at my new Brooks Brothers shirt, huh?
44:20
Yeah, I got it off eBay anyway. Right.
44:24
That's who it's dandy for. It's not dandy From what?
44:27
It's likely not, is it? I'll ask you, is it dandy or not
44:31
dandy? I'll tell you what.
44:32
Let's put it in there. Post a comment.
44:35
If it's dandy type, dandy. If it's not dandy type, not
44:40
'cause I don't think it is OK, I just don't think it is.
44:45
Black Swans are circling. Hey Ron, promote a silver
44:48
challenge. Challenge everyone to buy one
44:50
ounce of silver. I challenge everybody to buy 10
44:53
ounces of silver. Hey, Coin Shop Chris is here.
44:56
Hey guys, guys, Coin Shop Chris is going to be on soon on a live
45:01
stream with me. But everybody, please go check
45:04
out Coin Shop Chris's channel, OK?
45:07
He's putting out videos. His videos are more focused on
45:11
stacking, and he's got some other real interesting, cool
45:14
stuff too. And who doesn't love Coin Shop
45:15
Chris? And he's an integral part of the
45:17
silver and gold community. So please go check out Coin Shop
45:21
Chris's channel. Actually, I think there's a link
45:23
to it in the description of this video.
45:26
Should be, I put it on all my descriptions now because we want
45:29
to support the one and only Coin Shop Chris.
45:32
OK, All right. Oh, you got that, Chris?
45:35
No problem, buddy. 3,000,000 illegals.
45:38
Yeah. I mean, it's just it's not it's
45:39
not dandy. And we're not even we we're not
45:42
even talking about World War three that could break out in
45:47
Europe, right. We're not even talking about
45:50
that, guys. So things are dandy.
45:53
I don't know. All the car dealerships are shut
45:55
down. Thank you to Jake's custom
45:57
parts. He like was breaking news on
45:59
that one. Let's go check this out real
46:01
quickly. I didn't know this.
46:02
Did you know, did you know this basement dwellers how how much
46:09
of the economy is what percentage of the economy comes
46:14
through the the new car sector? I was, I was, I was, I was
46:19
flabbergasted when I read this. This major cyber incident
46:22
paralyzes thousands of US auto dealerships.
46:26
The company supplying software for managing sales and services
46:30
to thousands of auto dealerships and I think it's like 50% is
46:34
what I read across the United States of America reported yet
46:38
another cyber disruption on Thursday disrupting, disrupting
46:43
sales of new and used vehicles. It basically apparently shut
46:48
down these car dealerships. The guy on on X car dealership
46:52
guy. It's called CDK global.
46:55
OK, ought to continue, blah, blah, blah, blah, blah.
46:59
Here we go, another automotive cyber incident.
47:01
Here we go. CDK dealerships contribute 3 to
47:06
3 1/2 percent of GDPI did not realize that the car dealerships
47:12
represent almost 4% of the USGDP and that this company that was
47:17
hacked, CDK, powers over 50% of them.
47:24
This feels like a bad dream. Let's see what else they're
47:27
saying about this. OK, there we go.
47:33
He said that again. He's.
47:34
This guy says this stinks. We had a showroom full of
47:36
customers yesterday but couldn't complete a car deal.
47:40
So, you know, this just shows you the fragility of the
47:45
electronic systems. OK, the banking systems, the
47:50
electronic. My.
47:51
Thank you. Metal sear.
47:52
I forgot about super chats. Hold on.
47:54
Let me put that up there. Oh, we got another one too.
47:57
Hold on, guys. Oh my gosh, Dwight.
48:00
Oh my Lord, that's unbelievable. Thank you metal sear for your
48:05
super chat. I appreciate.
48:07
And Dwight, wow, thank you. That lifts my spirits and all
48:11
the support goes a long way to help support the family, Susie
48:14
and I so thank you guys. So yes, it's a it's an
48:20
interesting environment because think about it.
48:23
Half the car dealerships are shut down.
48:25
Now let me just throw this out there.
48:27
What about the banks, huh? I I, I'm not trying to.
48:31
I'm not, I'm not being, you know, wow.
48:33
Thank you. My my friend Dwight.
48:35
That is awesome. And thank you.
48:37
Metal sear as well. What about the banks, huh?
48:41
They just shut down half of the car dealerships, half because of
48:47
a cyber attack. What if the banks were to have a
48:50
cyber attack? Right?
48:52
What happens then and you can't get your money out of the banks.
48:56
I'm not trying to spread fear and I'm not saying it's going to
48:58
happen. But what I'm saying is when
49:01
we're also, do you have cash? Do you have some silver?
49:05
Do you have some food stocked up?
49:07
Right? Those are the things you need to
49:09
ask yourself. Hey guys, thank you as always
49:12
for being here. Thank you for being part of the
49:14
basement. I want to say thank you to
49:16
channel sponsor First Mining Gold as well.
49:19
You can learn more about them at firstmininggold.com.
49:22
They've had some good news releases lately, but the best
49:26
news release I have for you is that I'll be back tomorrow.
49:31
Well, maybe that's not the best for you, but the best for me,
49:34
the opportunity to connect with you here in the basement, it's
49:37
always a big, big honor. I appreciate you.
49:40
OK. Be careful out there next week,
49:43
the summer, right? We're going to hit some rocky
49:45
times today. We're OK despite what's going on
49:49
in the silver and gold market. We'll get through it together
49:52
and I'll see you soon. Thank you.